Treasury Bill Rates Kenya This Week: 91-Day at 8.748%

Updated 27 October 2026

Treasury bill rates Kenya for the latest CBK print put the 91-day paper at 8.748% on 26 October 2026, according to the Central Bank of Kenya key rates board. That is just under the Central Bank Rate of 8.75% set on 7 October 2026. This week’s markets desk note explains what that figure is, what it is not, and how to place it next to MMF yields and bank deposits without treating any of them as a promise.

Updated 27 October 2026. Source: CBK key rates on centralbank.go.ke (91-day T-bill dated 26/10/2026; CBR dated 07/10/2026). Auction results are published by CBK as dated PDFs. Not investment advice. Past yields are not a guarantee.

Treasury bill rates Kenya this week

CBK runs weekly Treasury bill auctions (91, 182 and 364 days). Bids close on the timetable CBK publishes; results follow in a dated PDF on the bills-and-bonds pages. The key rates board summarises the latest 91-day print for quick reference. For the 182-day and 364-day results, open that week’s PDF rather than guessing from the 91-day line alone.

How to read 8.748% in shillings

A Treasury bill is a discount instrument: you pay less than face value and receive face value at maturity if you hold to the end. The rate CBK quotes on the board is the reference from the latest auction process. Your exact return depends on the price you are allotted and on whether you buy at auction or in the secondary market.

Worked illustration only (not an offer): on a KSh 100,000 face-value 91-day bill, an annualised rate near 8.75% is roughly a KSh 2,100-class discount before you adjust for the exact day count and tax. Use CBK’s auction PDF and your CDS or DhowCSD confirmation for the real figure. Our investment returns calculator helps compare labelled options once you have dated yields.

T-bills versus MMFs and savings accounts

• T-bills: government paper, auction-based, held via CDS/DhowCSD routes CBK describes. Liquidity before maturity means selling in the secondary market at a price that can move.
• Money market funds: unit trusts regulated by CMA; yields are published by each manager and change. They are not the same claim as a T-bill.
• Bank savings: CBK’s September 2026 average savings rate was 3.53%, far below the 91-day bill print, but deposits have different access and KDIC treatment.

Step-by-step participation is in how to buy Treasury bills in Kenya. For portfolio context see best investments in Kenya. Today’s related FX print is covered in our dollar to shilling today note.

What to watch next

1. The next CBK Treasury bill auction notice and results PDF.
2. Whether the 182-day and 364-day papers clear above or below the 91-day.
3. The next Monetary Policy Committee decision after the 8.75% CBR.
4. September-to-October inflation updates from KNBS when published.

If CBK’s site is slow on results day, wait for the PDF rather than forwarding unverified WhatsApp rates.

Auction rhythm in plain language

CBK invites bids for 91-, 182- and 364-day bills on a weekly cycle. You (or your custodian) submit a competitive or non-competitive bid under the rules in that week’s notice. CBK then publishes a results PDF with the weighted average rates and the amount allotted. The key rates board’s 91-day line is a headline; the PDF is the document that settles arguments.

If you are new to the process, open an account route CBK recognises, fund it in time for the auction cut-off, and keep the allotment advice. Rolling a maturing 91-day bill into the next auction is a separate instruction, not an automatic default on every platform.

Risk notes the brochure sometimes skips

• Selling before maturity can return less than you expected if secondary prices have moved.
• Reinvestment rates next month can be lower than this week’s 8.748% print.
• Inflation at 6.8% (September 2026 on the CBK board) eats part of any nominal yield; that is a comparison tool, not a reason to chase riskier assets blindly.

For a household cash buffer, match the bill tenor to when you will need the money. A 91-day bill suits a fee or tax bill that falls in three months; a 364-day bill suits money you will not touch for a year. Mixing tenors reduces the chance that every shilling rolls over on a single weak auction week.

Frequently asked questions

What are Treasury bill rates Kenya showing for the 91-day?

CBK’s key rates board showed 8.748% dated 26 October 2026.

Is that rate guaranteed for money I invest tomorrow?

No. Each auction sets its own accepted rates. Secondary-market prices also move.

How do I buy a T-bill?

Follow CBK’s auction process through the channels in our how-to-buy guide, usually via a CDS account or DhowCSD as CBK describes.

Are T-bill returns tax-free?

Tax treatment depends on current KRA rules and on your status. Confirm withholding on your allotment advice; do not assume a WhatsApp claim.